US consumer sentiment rose in December by less than expected, remaining depressed amid lingering affordability concerns. The University of Michigan’s final December sentiment index climbed 1.9 points to 52.9, according to a report released Friday. The median estimate in a Bloomberg survey of economists called for a reading of 53.5. “Despite some signs of improvement to close out the year, sentiment remains nearly 30% below December 2024, as pocketbook issues continue to dominate consumer views of the economy,” Joanne Hsu, director of the survey, said in a statement. The current conditions gauge slid to a record-low of 50.4, while a gauge of expectations climbed to a four-month high. Consumers’ perception of current buying conditions for big-ticket items deteriorated to the lowest on record. Will Auchincloss, Americas Retail Sector Leader at EY-Parthenon, breaks down the state of the consumer. (Source: Bloomberg)